GBPAUD is in its final inning of downward consolidation.
According to the encyclopedia of Chart Patterns by Bulkowski, flag patterns were the highest probability trades to take. I've checked all the contingencies and they all match the necessary elements of a high probability flag pattern. I think this will be a very nice trade this year.
The entry should be between 2.00 - 2.04. This is a very wide entry, so it should be up to you where the best low risk entry should be based on your risk parameters. Target is north of 2.30 - 2.40. Stops should be at or below 1.99.
My last post on GBPAUD:
The entry should be between 2.00 - 2.04. This is a very wide entry, so it should be up to you where the best low risk entry should be based on your risk parameters. Target is north of 2.30 - 2.40. Stops should be at or below 1.99.
My last post on GBPAUD:
Comment:
The break of 1.95 makes this cross rate potentially the most opportune short among many exchange rates
BEARS COULD EASILY TAKE FULL CONTROL